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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Net real estate investments:    
Real estate assets, at cost $ 14,561,924 $ 13,698,419
Less: accumulated depreciation 3,267,728 2,960,399
Real estate assets, net 11,294,196 10,738,020
Investments in sales-type leases, net 16,727 16,291
Investments in real estate partnerships 349,856 399,044
Net real estate investments 11,660,779 11,153,355
Cash, cash equivalents, and restricted cash, including $16,004 and $5,601 of restricted cash at December 31, 2025 and 2024, respectively 120,661 61,884
Tenant and other receivables, net 273,862 255,495
Deferred leasing costs, less accumulated amortization of $138,391 and $131,080 at December 31, 2025 and 2024, respectively 97,253 79,911
Acquired lease intangible assets, less accumulated amortization of $421,433 and $395,209 at December 31, 2025 and 2024, respectively 254,201 229,983
Right of use assets, net 315,804 322,287
Other assets 278,723 289,046
Total assets 13,001,283 12,391,961
Liabilities:    
Notes payable, net 4,619,301 4,343,700
Unsecured credit facility 120,000 65,000
Accounts payable and other liabilities 391,847 392,302
Acquired lease intangible liabilities, less accumulated amortization of $243,040 and $222,052 at December 31, 2025 and 2024, respectively 356,454 364,608
Lease liabilities 242,368 244,861
Tenants’ security, escrow deposits and prepaid rent 89,707 81,183
Total liabilities 5,819,677 5,491,654
Commitments and contingencies
Shareholders' equity/Partners' capital:    
Preferred stock $0.01 par value per share, 30,000,000 shares authorized; 9,000,000 shares issued and outstanding, in the aggregate, in Series A and Series B at December 31, 2025 and 2024 225,000 225,000
Common stock $0.01 par value per share, 220,000,000 shares authorized; 182,902,234 and 181,361,454 shares issued and outstanding at December 31, 2025 and 2024, respectively 1,829 1,814
Treasury stock at cost, 494,307 and 479,251 shares held at December 31, 2025 and 2024, respectively (31,075) (28,045)
Additional paid-in-capital 8,704,138 8,503,227
Accumulated other comprehensive (loss) income (4,220) 2,226
Distributions in excess of net income (1,988,782) (1,980,076)
Total shareholders' equity 6,906,890 6,724,146
Noncontrolling interests :    
Exchangeable operating partnership units, aggregate redemption value of $264,950 and $81,076 at December 31, 2025 and 2024, respectively 144,940 40,744
Limited partners' interests in consolidated partnerships 129,776 135,417
Total noncontrolling interests 274,716 176,161
Total equity 7,181,606 6,900,307
Total liabilities and equity 13,001,283 12,391,961
Partnership Interest [Member]    
Net real estate investments:    
Real estate assets, at cost 14,561,924 13,698,419
Less: accumulated depreciation 3,267,728 2,960,399
Real estate assets, net 11,294,196 10,738,020
Investments in sales-type leases, net 16,727 16,291
Investments in real estate partnerships 349,856 399,044
Net real estate investments 11,660,779 11,153,355
Cash, cash equivalents, and restricted cash, including $16,004 and $5,601 of restricted cash at December 31, 2025 and 2024, respectively 120,661 61,884
Tenant and other receivables, net 273,862 255,495
Deferred leasing costs, less accumulated amortization of $138,391 and $131,080 at December 31, 2025 and 2024, respectively 97,253 79,911
Acquired lease intangible assets, less accumulated amortization of $421,433 and $395,209 at December 31, 2025 and 2024, respectively 254,201 229,983
Right of use assets, net 315,804 322,287
Other assets 278,723 289,046
Total assets 13,001,283 12,391,961
Liabilities:    
Notes payable, net 4,619,301 4,343,700
Unsecured credit facility 120,000 65,000
Accounts payable and other liabilities 391,847 392,302
Acquired lease intangible liabilities, less accumulated amortization of $243,040 and $222,052 at December 31, 2025 and 2024, respectively 356,454 364,608
Lease liabilities 242,368 244,861
Tenants’ security, escrow deposits and prepaid rent 89,707 81,183
Total liabilities 5,819,677 5,491,654
Commitments and contingencies
Shareholders' equity/Partners' capital:    
Preferred units $0.01 par value per unit, 30,000,000 units authorized; 9,000,000 units issued and outstanding, in the aggregate, in Series A and Series B at December 31, 2025 and 2024 225,000 225,000
General partner's common units, 182,902,234 and 181,361,454 units issued and outstanding at December 31, 2025 and 2024, respectively 6,686,110 6,496,920
Limited partners' common units, 3,838,188 and 1,096,659 units issued and outstanding at December 31, 2025 and 2024, respectively 144,940 40,744
Accumulated other comprehensive (loss) income (4,220) 2,226
Total partners’ capital 7,051,830 6,764,890
Noncontrolling interests :    
Limited partners' interests in consolidated partnerships 129,776 135,417
Total capital 7,181,606 6,900,307
Total liabilities and equity $ 13,001,283 $ 12,391,961